Cathie Wood: Bitcoin price could reach as high as $3.8 million by 2030

Odaily News Cathie Wood said at the Bitcoin Investor Day conference in New York that the large-scale adoption of institutional investment and new ETF products mean that she predicts that the price of Bitcoin can exceed its existing target price by more than $2 million in a bull market scenario. . ARK Invest released a Bitcoin outlook report in January, predicting that the price of Bitcoin could reach $1.5 million by 2030. Bitcoin is up 44% so far this year and was around $63,768 on Friday. Cathie Wood said: “Last year, we proposed a bullish case for Bitcoin with a price target of $1.5 million. The SEC gave the green light to institutional investment, and the analysis we did was that if institutional investors invested more than 5% of their portfolio Allocating to Bitcoin, as we think they will do in the future, that alone would add $2.3 million to the forecast I just gave over time. (Business Insider) Previous news in January, Cathie Wood In an interview with CNBC, he said: “ARK Invest’s basic prediction of Bitcoin price is to reach the range of $600,000 in 2030. With the US SEC’s approval of spot Bitcoin ETF, the possibility of a bull market has increased. If in a bull market situation down, it may reach US$1,500,000 in 2030.”